Nano Nuclear Energy (NASDAQ:NNE) Shares Down 4.1% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) was down 4.1% on Friday . The stock traded as low as $19.50 and last traded at $21.71. Approximately 1,451,743 shares were traded during trading, a decline of 53% from the average daily volume of 3,086,019 shares. The stock had previously closed at $22.64.

Wall Street Analyst Weigh In

NNE has been the topic of several analyst reports. Benchmark lifted their price target on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. HC Wainwright started coverage on shares of Nano Nuclear Energy in a research report on Wednesday, October 30th. They set a “buy” rating and a $50.00 target price on the stock.

Nano Nuclear Energy Stock Performance

The stock has a 50 day moving average of $17.16.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Wednesday, August 14th. The company reported ($0.17) earnings per share for the quarter. On average, research analysts expect that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

A hedge fund recently bought a new stake in Nano Nuclear Energy stock. Commonwealth Equity Services LLC bought a new stake in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,665 shares of the company’s stock, valued at approximately $250,000.

About Nano Nuclear Energy

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.